October 5, 2022
SFM territory expansion: Sights set on Tennessee
SFM’s territory expansion continues as the team makes more progress in Kansas and Indiana and sets its sights on Tennessee.
SFM has selected the Volunteer State as our 2023 expansion state, continuing our plans for growth. Our team is already meeting with key industry contacts in the state to develop relationships with regulators, agencies, and agency associations. SFM expects to be appointing new agency partners in Tennessee in the coming months, and to begin writing business in the first half of 2023.
“We are extremely optimistic about our future outlook in Tennessee,” said SFM Business Development Specialist Cody Allen. “We chose Tennessee based on several key factors: a consistent history of profitability in the work comp line, ease of doing business from a regulatory standpoint, and a potential strategic partnership to help with our initial agency distribution.”
A year in Indiana
SFM entered Indiana in fall of last year and started writing business in January. So far, we have surpassed our initial goals for 2022 for written premium and appointed agencies.
“Our team is developing a few key relationships in Indiana that we expect to increase our growth in the state in the coming year,” said SFM Small Business Marketing Representative Mark Lewis. “It’s encouraging to know that agents in this competitive work comp market want to work with a carrier that has a deep desire to support both them and their policyholders, and that is also competitive on pricing and commission.”
This first year, we have had the chance to meet many new agencies thanks to our team members’ activities participating in both the Big I Indiana and the Professional Insurance Agents (PIA) of Indiana. SFM will be exhibiting at the annual Big I Indiana convention in November, and we encourage you to stop by our booth to meet our team.
Recap of Kansas, our first expansion state
We’re continuing to grow in Kansas.
“The reception by Kansas agencies and our results to date have far exceeded our expectations and this state remains a marker of what our company can achieve with hard work and through terrific agency partnerships,” Allen said.
Currently, we have over 450 policies and $1.6 million of in-force premium in the state, and we have signed up over 115 agencies.
SFM is now writing business in 34 states. You can view a complete state coverage list on the coverage and services page of the SFM website.